the overall economy.
He noted that the fundamental shift in global energy markets, driven by advances in unlocking unconventional petroleum resources and increasing traction for cleaner energy sources, had resulted in a global oversupply of crude oil, putting pressure on prices. According to Yusuf, the chamber is fully supportive of the government’s efforts to drive industry reform through a new PIB.
“Doing so will incentivise the launch of new projects, grow production and revenue for government and stakeholders, thereby guaranteeing long-term sustainability of our oil and gas industry.”
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